Domestic market benchmarks the Sensex and the Nifty ended about half a per cent higher on May 15, extending their gains into the second consecutive session, on all-round buying amid positive global cues. Sensex rose 318 points, or 0.51 per cent, to end the day at 62,345.71 while the Nifty closed the day at 18,398.85, up 84 points, or 0.46 per cent.
Nifty Bank clocked a gain of 0.64 per cent, ending at 44,072.10 with all components in the green. The index hit a high of 44,151.70 in intraday trade which is almost equal to the index’s all-time high of 44,151.80 which it hit on December 14, 2022.
A look at the top gainer & losers of the day
As many as 172 stocks, including Tata Motors, DLF, Lupin, Titan, Godrej Consumer, Colgate-Palmolive and AU Small Finance Bank, hit their fresh 52-week highs in intraday trade on BSE.
On Nifty, as many as 16 stocks ended with losses while 34 gained in the index.
Nifty gainers
Hero MotoCorp (up 3.05%), Tata Motors (up 2.81%), ITC (up 1.91%), Tech Mahindra (up 1.52%), and Hindustan Unilever (up 1.47%)
Nifty losers
Adani Entertainment (down 2.78%), Cipla (down 1.88%), BPCL (down 1.45%), Divi’s Laboratories (down 1.21%), and Grasim (down 1.14%).
Sensex gainers
Tata Motors (up 3.25%), Tech Mahindra (up 2.11%), ITC (up 1.76%), HUL (up 1.57%), Larsen and Turbo (up 1.45%) and Infosys (up 1.06%)
Sensex Losers
Maruti Suzuki (down 0.84%), Sun Pharma (down 0.28%), TCS (0.28%) and Nestle (down 0.09%)
BSE
Top gainers: Zensar Technologies Ltd. (up 12.94%), Sindhu Trade Links Limited (up 12.25%), Sobha Limited (up 11.26%), Coffee Day Enterprises Ltd (up 9.59%)
Top losers: Subex Ltd (down 14.12%), Solara Active Pharma Sciences Ltd (down 6.65%), Ceat Ltd (4.75%), Eveready (down 4.46%), and NFL (5.27%).
The easing in domestic inflation data provided support to the market, said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services Ltd.
“Nifty opened positive and strengthen throughout the session to close with gains of 84 points at 18399. All sectors ended in green with Realty being the top gainer up 4%, followed by FMCG and PSU Bank stocks. Bank Nifty touched its previous all-time high of 44151.70 levels. Nifty too is 3% away from its lifetime high levels. FIIs have been consistent buyers of Rs.13278 for the month to date. Strong results from index heavy heavyweight boosted the sentiments,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services Ltd.
“The expectation of RBI to end the rate hike cycle after India’s CPI inflation eased to an 18-month low of 4.7% in April and remained under RBI’s comfort zone, cheered markets. Even WPI inflation declined for the 11th straight month, falling to -0.92% in April. All these factors contributed to positivity in the market, despite mixed global cues. Overall, we maintain a positive outlook with a “Buy on dips” strategy,” he added.
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